Why I don't buy Polkadot now

[zasad@]

https://polkadot.network/
Founder  Gavin Wood
https://twitter.com/gavofyork
"Founder of Parity Technologies. Co-Founder of Ethereum. Building Polkadot. Blockchain bloke. All things Web 3.0"

A bit of history about the project.
Project since 2017, this year 50% of coins were sold on ICO.

https://icodrops.com/polkadot/

ICO raised $ 144 million, the average purchase price of a coin 30 cents !

Polkadot ICO lost $91 Million to parity bug.
https://www.reddit.com/r/ethtrader/comments/7bd0tm/polkadot_ico_lost_91_million_to_parity_bug/

The project remains $ 53 million

In 2019, the project launched a network, in 2020 new token sale was carried out, the average token price is $ 1.2-1.5

https://www.coindesk.com/polkadot-raises-43m-in-72-hour-private-sale-source
"A second private sale of the Polkadot token (DOT) netted the Web3 Foundation and Parity Technologies some 3,982.07 bitcoin (BTC) worth an estimated $43.3 million at press time, according to sources."

Announcements of projects
https://forum.web3.foundation/t/teams-building-on-polkadot/67
http://polkaproject.com/

Statistics
https://polkastats.io/

Staked
572.229M DOT (58%)
Cool, what does that mean?

Tokens healed in staking cannot be released immediately, they need to wait 28 days.
Tokens bought on the second token sale are also locked for 4-5 months (correct if I was wrong)

Therefore, nothing prevents the price of a coin from flying to the moon!

How many willing investors do you think will want to sell their tokens for $ 6? (their cost price is 30 cents)

I think a lot, so the most prophetic investors will soon run out of 28 days (this will come on September 7-12) and the price will sharply drop down.

There is a chance that the price will increase if the token is traded on the coinbase exchange, but I think that the price will fall dramatically.

I also planned to buy this coin, but after talking with different people, I changed my mind while investing in it.
I will wait until mid-September.

Your opinion?

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[elda34b]

A project that I know of raised only ~$10M back in 2018 and they're still going strong without any additional token sale and instead expands quite nicely. I honestly can't trust it as an investment when they raised more than $50M and still ask for more, maybe only as a short-term speculation (gambling). I'd agree with you, though I'd think it's still okay to gamble 1/2 ETH and exit near the lock removal.

[btcltcdigger]

Very good and informative analysis.
I've recently bought some DOT on binance, and in the meantime it pumped about 30% (which is good for me).
However, after reading this, i might sell atleast half of my bag before september 7th.
Worst case, if it sharply drops, i might rebuy with lower price to get a better DCA

[prehisto]

Nice explanantion of the project in genral, was wondering what the hell is this project after noticing it on coinpaparika top.

Also nice DD on why the price is going only up and up, if one can know for sure when they will unlock the tokens, that could be an indicator when to get out of this token!

[Bitstar_coin]

Yeah there is the possibility of a huge sell off comes September 7 - 12 with a cost price of $0.30 definitely many will take profit no doubt but I think some will sell depending on the upcoming news the team have, sometimes things don't always go the way it is expected, I have seen several cases where people anticipate a fall in price but the opposite will happen.

[amos77978]

makes sense most investors will want to sell their bag at 6 dollar for a token that sold so cheap during sales.. this same event happened with hybrix and now the coin is down to 1.3usd from 6usd max..

[amos77978]

this is the more reason why one should make detail research on a coin before rushing to buy into it.. I heard about this coin few days ago.. and was planning to buy into it before reading this thread.. thanks for the head up

[xOdiumNostrumx]

In my opinion, the Polkadot and its ecosystem is so hyped right now that even in the short term there is not much of a risk in investing in it at those relatively high prices. Its ecosystem is expanding rapidly and this will effect its positive price action as well I suppose. But then again, how high can it go, definitely into the top 5 per MC, but can it reach #3 position? In the mid/long term, probably. 

[Metall303]

I like your strategy and what you wrote. I also do not believe in the endless pump in prices and I also expect when the price starts to fall. the project is really good but now the price of the coin is too high. I want to buy at $ 2

[zasad@]

I also think that if you consider an investment for 2-3 years, it will not be a mistake to buy at $ 6, but why do that?
I would wait until mid-September.

New coins will also be issued on Polkadot, and the price of Polkadot will only grow.
I have written an opinion for those who are going to buy this coin for short-term speculation.
In the next 15 days, I will be monitoring the price to try to buy at $ 2-3.

[MonsterV]

this informations is very helpfull for me, last day i bought polkadot 2000$ worth dot  at 5.5$ price and sell it on 6.2$, today i wish to buy more to make small profit by holding it 1 day, but after reading your threads im still think twice to buy and take small profit like before, im afraid that the hype will gone right after i buy and then the price wont rise anymore, well lets see how long the hyper dot price above 5$ is continue or the price will down below 4$.

[BitTraderCute]

Yeah there is the possibility of a huge sell off comes September 7 - 12 with a cost price of $0.30 definitely many will take profit no doubt but I think some will sell depending on the upcoming news the team have, sometimes things don't always go the way it is expected, I have seen several cases where people anticipate a fall in price but the opposite will happen.

ofcourse there will big dumped if token  released in market, from 3 cents and now around $6,1 which investors that will not sell their assets after get huge return.

Nice infor @OP, i would heed your suggestion of waiting for sometime since the lock in period is expring and there would probably a huge sell off after the locked token is released.   A profit of more than 1000% is very tempting so I also see a large number of investors to sell their holding in exchange of a huge profit.

waiting till all information above realized will be safe decision ever. dont tempted on polkadot hype at this moment, we must think twice with current price and all possibility that could happen.

[xenon131]

~
I also planned to buy this coin, but after talking with different people, I changed my mind while investing in it.
I will wait until mid-September.

Your opinion?

I have mixed feelings about whether to buy right now or postpone for a while. The technology they put out  speaks for itself, it's good and innovative in some respect, but nowadays not everything depends on technologies... there are a lot of various factors that could either mainstream or torpedo it.   Btw, there are a  few more Polcadot's threads here on forum that could help to take the right decision:

https://bitcointalk.org/index.php?topic=5270731.msg55047581#msg55047581

https://bitcointalk.org/index.php?topic=2273347.msg54818781#msg54818781

[niksdt101]

i had actually brought a bit of Polkadot  last week from binance seeing some other article and sold it after the pump . if the price goes down i'll add a couple hundreds of Polkadot , just to have enough in the bag for the future.

[iTradeChips]

This is very helpful information that you have given, especially now that I have been monitoring DOT after a friend recommended that I take a quick look at this. It would be much better for all of us to wait for the date where the price will sharply drop, that way we would be able to buy at a very low price and be able to help earn more once the price starts to go up again. The information is pretty straightforward and is a warning to us. So I will listen and monitor this further as the days pass by.

[zasad@]

For Polkadot coins, the economy is calculated so that 20-40% of the coins are locked. All projects that want to be connected to the network will be forced to deposit a lot of Polkadot coins.
Therefore, now lock drops are gaining great popularity, and the longer you agree to lock your coins, the more project coins you will receive.

for example, one of the popular projects
https://lockdrop.plasmnet.io/#/lock-form

[Febo]

ICO raised $ 144 million, the average purchase price of a coin 30 cents !
Polkadot ICO lost $91 Million to parity bug.
https://www.reddit.com/r/ethtrader/comments/7bd0tm/polkadot_ico_lost_91_million_to_parity_bug/
The project remains $ 53 million

That is all I member. It is good to see that that bug did not sunk the project. Suddenly 2/3 of founds vanished.

[bigcash2011]

With the hype around this project do not expect a crash in price of DOT like you said in your post, even if sellers come in big numbers there are already buyers waiting for a dip so i do not think this will crash it will just dip and take a sharp turn back.

[articlecity]

Polkadot is trending coin at the moment and looks like it is the choice of big investors for now which is keeping the price up. I have seen most projects dropping in price first after listing on exchanges but dot just seem to go up.

[bttmember]

Best time to buy Dot coins was when it was available for $2 to $3. I hope it will come down to this price range again but with the market and demand i do not see that anytime soon, to be honest.

[key4co.in]

OP made very good points about polkadot but sometimes it's not always about token sale price, check projects like LEND. If you go by price difference between current price and token sale price for most projects with solid team and progressive development, like LINK, you will be discouraged to buy at current price. OP mentioned ICO price was 30 cents and current price is about 6$, this doesn't matter much provided the demand of the coin increases over time. Polkadot is a dope project, I bought some DOT already. Thanks OP for the sincere in depth analysis.

[Lizzylove1]

I almost bought this on gate today. After reading this post, I will have to wait for a pull back. Someone had advised us to buy in our group that it could be a replica of ethereum in terms of price, without giving any fundamentals.

[Rengga Jati]

I just became aware of this.
Thank you for the information, first, I am also doing research on DOT. because as we all know, DOT is currently on the rise. Many exchanges list the coin and the charts show a great increase in price. in fact, many media have stated that DOT will become a competitor for ETH. that's the media, always comparing one another by packing the words "toughest competitor". Like YFI for BTC.

Because of this, I am personally interested in whether or not it is easy to develop a coin that is hype and also skyrocketed in a short time. learn from past mistakes that only follow hype. 

[SillyGirl]

Maybe this information is helpfull too? https://www.worldcoinindex.com/news/polkadot-dot-undergoes-re-denomination-price-surges-nearly-130-in-five-days

[giammangiato]

I think that polkadot is one of the best project at the moment. It is doing up and down in the price but the porject is very strong. Good platfor and also good investitors. Your reasons for don't invest now are also good but I prefer to buy and hold!

[tvplus006]

...How many willing investors do you think will want to sell their tokens for $ 6? (their cost price is 30 cents) ...

Yes, a lot of people will want to sell for $6. Fixing x20 is very good for an investor, but if you look at other DeFi projects, we can see a profit that exceeds x1000. Is it too early to part with promising investments? And we can't know what price Polkadot has on September 7.

[Francis Freeman]

I have no bad feeling about the project if they list the money due to a genuine bug but the price of the coin is too high for me to get in now .so I am staying away from it.

[casperBGD]

^snip

it is good to see through analysis, but i would like to add two important things

- ICO price was 32 USD or 0,32 USD after denomination, but it was possible to pay only in ETH, and that was 0,1 ETH, or 0,001 ETH after denomination, which is now about 0,45 USD, not much of a difference, but not negligible at all
- why do you think all investors will sell after staking period is finished, that could be said for all project, could it?
- this buy was three years ago, one could bought then some other projects as well, and have better return on their capital

however, i would think twice before sell my tokens on 6th

[jpnl0006]

https://polkadot.network/
Founder  Gavin Wood
https://twitter.com/gavofyork
"Founder of Parity Technologies. Co-Founder of Ethereum. Building Polkadot. Blockchain bloke. All things Web 3.0"

A bit of history about the project.
Project since 2017, this year 50% of coins were sold on ICO.

https://icodrops.com/polkadot/

ICO raised $ 144 million, the average purchase price of a coin 30 cents !

Polkadot ICO lost $91 Million to parity bug.
https://www.reddit.com/r/ethtrader/comments/7bd0tm/polkadot_ico_lost_91_million_to_parity_bug/

The project remains $ 53 million

In 2019, the project launched a network, in 2020 new token sale was carried out, the average token price is $ 1.2-1.5

https://www.coindesk.com/polkadot-raises-43m-in-72-hour-private-sale-source
"A second private sale of the Polkadot token (DOT) netted the Web3 Foundation and Parity Technologies some 3,982.07 bitcoin (BTC) worth an estimated $43.3 million at press time, according to sources."

Announcements of projects
https://forum.web3.foundation/t/teams-building-on-polkadot/67
http://polkaproject.com/

Statistics
https://polkastats.io/

Staked
572.229M DOT (58%)
Cool, what does that mean?

Tokens healed in staking cannot be released immediately, they need to wait 28 days.
Tokens bought on the second token sale are also locked for 4-5 months (correct if I was wrong)

Therefore, nothing prevents the price of a coin from flying to the moon!

How many willing investors do you think will want to sell their tokens for $ 6? (their cost price is 30 cents)

I think a lot, so the most prophetic investors will soon run out of 28 days (this will come on September 7-12) and the price will sharply drop down.

There is a chance that the price will increase if the token is traded on the coinbase exchange, but I think that the price will fall dramatically.

I also planned to buy this coin, but after talking with different people, I changed my mind while investing in it.
I will wait until mid-September.

Your opinion?

This is indeed a very insightful information. And I actully decided to analyse the project via the chaarts yesterday and noticed the nosedive in price and wondered why. The fact that the token will be released in a few days time will create a rush sale which will further decline the price curve and that is not a good one for an investor that invested with a $6.5  per unit. Thanks for the information.

[zasad@]

I did not expect such a rapid decline in the market, although this is great, there is an opportunity to buy many interesting tokens cheaper.
I haven't done any analysis yet, because the most interesting things always happen on weekends

Soon the first coins will be unlocked, and I'm wondering how much will be sold. You can place buy orders for $ 2 or a little more. But such a project is worth keeping in your portfolio.

__
This is not financial advice, these are my thoughts.

[zasad@]

August 27
Staked
S573.867M DOT (58%)


September 12
Staked
594.327M DOT (59%)

https://polkastats.io/

What don't I know?
Doesn't anyone come out of staking to take profits?
The number of people willing to stake tokens is only growing.
It might be worth the wait longer

[BayAngelo]

you have a clear analysis of this project and from the look of things. the price might be heavily controlled by traders. meanwhile i was carried away by the fact that it just got listed and went straight up to the top  10 cryptocurrency in the market showing that anything is still possible here. i bought at 4 usd and i wanted to sell and hope to buy lower

[bitkanu]

so many people staking this coin and they got quite the profit I really doubt that many people gonna dump their token easily though, the project also promising. so many people are willing to hold to the coin if the project is promising and although the price of the coin have multipled but the early birds aren't that many. though your analyzation might be true and it's already down to $5 but I really doubt it's gonna fall below $5.

[kawetsriyanto]

I think that Polkadot and other DeFi projects are now being increasing its popularity. Polkadot is the same as other coins that are for hype. Actually you are not alone because I also don't take part in this coin, which means that I do not hold or buy a single coin of DOT.
Well, it is very risky to put our funds in the new projects with hype. we do not know about the future investment of our money. However, if it is for daily trading with small funds, it may be probably to be done next time. Let's wait and view what will happen to the future of this DOT. WIll it really becomes a hard competitor of ETH or not?

[(o)(o)ilikeboobs(o)(o)]

Marketcap is too high for the value that Polkadot brings, it is not popular and probably does not have many more projects than Tronix (TRX).
A complex language like Rust certainly won't appeal to users like Python, Java, C, C ++ or Go. I think Polkadot himself and the projects on that platform are being exaggerated. Polkadot ecosystem tagging projects are still on the foundation of the Ethereum network.

[MCobian]

Your analysis on the opening post is very good, and when you made this topic on August 29th the DOT price was quite high,
so it is not recommended to buy a DOT at that time. Then the perfect time to buy DOT is when September 6th, the DOT price
hits $ 3.92. Which price is quite low and very good for buying DOT, if by September 6 you buy DOT. You must have made a profit
now, because the current DOT price has gone up to the price of $ 4.53.

[Malam90]

Your post is full of very very important information about Polkadot project. I have know about this project and tried to invest in token sale but i have back some reasons. Now my back reasons pushed me from pulling huge profits. I am trying to observe on Dot and will buy few DOT in the current price and will hold for few months.

[optimisticcm]

It is everyones personal choice and no compulsion to buy the coin, so i believe at the moment only real fans and supporters of the polka dot project are buying especially those that believe in the longterm utilities and success of the project personally i will wait to see how polkadot performs and how good is its apllication across the chains.

[sarmrakib]

I have no bad feeling about the project if they list the money due to a genuine bug but the price of the coin is too high for me to get in now .so I am staying away from it.

The price is not fact i think .The project is so potential and looking forward .This thread is informative but if a bit chance that i have seen the past price of Old polkadot and bought a few .Now lets see how loss i get

[disconnectme]

This was my worry about the project, for them to come out to raise second ICO make me believe the project is going to have to do a lot to convince people it worth holding it long term, I am waiting for the second ICO tokens to be released, when released and the market is able to absorb the price then I think the project is ready. I just have a feeling the second ICO money was used to pump the price for now

[zasad@]

https://www.globenewswire.com/news-release/2021/02/02/2167832/0/en/21Shares-Launches-The-World-s-First-Polkadot-ETP.html
"Zurich - 2 February 2021 - 21Shares AG, the pioneering issuer of crypto Exchange Traded Products (ETPs) is launching the world’s first Polkadot ETP (ADOT SW - CH0593331561 - PDOT) "DOT ETP" on the regulated segment of the Swiss stock exchange (SIX Exchange) on Thursday February 4th, 2021. Last Friday, Polkadot was admitted by the Index Provider to the 21Shares HODL basket ETP as second-largest constituent after Bitcoin (BCH being removed) and as such,  makes it is the perfect timing to add an additional single asset ETP to the already wide range of crypto ETPs 21Shares offers. "

This is not the latest news, but already serious market players are starting to work with polcadot.

[jacafbiz]

I have no issue with Polkadot for now but there are a lot of projects signaling they are going to move to Polkadot until Binance Chain comes out and still the show from it, remember Polkadot was Number on CMC before then now we have BNB, if all these projects moves from Proof of Concept and start releasing their product then Polkadot is really a project to take very serious

[zasad@]

https://decrypt.co/71307/parachains-on-polkadot-are-one-step-closer-to-launch
"Polkadot Is One Step Closer to Launching an 'Internet of Interoperable Blockchains'
Polkadot’s experimental network Kusama has seen its first parachain rolled out, marking the next milestone on the project’s roadmap.

Parachains are now live on Kusama, Polkadot’s experimental network.
According to Gavin Wood, the founder of Polkadot, this brings the project’s final vision closer to reality."

[zasad@]

https://polkadot.network/kusama-parachain-auctions/
"If these recommendations are followed then the schedule will look like:

2021/06/15, 12:00 GMT: First Kusama Parachain Slot auction commences. Bids may be placed.
2021/06/17, 09:00 GMT: First Kusama Parachain Slot auction ending period begins. Only bids made prior to this point will certainly be considered in the final result. Bids made following this point have a linearly reducing chance of being considered.
2021/06/22, 09:00 GMT: First Kusama Parachain Slot auction bidding ends. No bids may be made on this auction following this point.
2021/06/22, 11:00 GMT: First Kusama Parachain Slot auction winner selected. The auction winner is determined as the highest bidder at some randomly selected point over the past five days.
2021/06/22, 12:00 GMT: Second Kusama Parachain Slot auction commences.
2021/06/29, 12:00 GMT: Third Kusama Parachain Slot auction commences.
2021/07/06, 12:00 GMT: Fourth Kusama Parachain Slot auction commences.
2021/07/13, 12:00 GMT: Fifth Kusama Parachain Slot auction commences."

[zasad@]

https://blog.coinbase.com/polkadot-dot-is-launching-on-coinbase-pro-cd06a9b05dc6
Polkadot (DOT) is launching on Coinbase Pro
Jun 14
"Starting Today Monday June 14, transfer DOT into your Coinbase Pro account ahead of trading. Support for DOT will generally be available in Coinbase’s supported jurisdictions with the exception of Singapore.
Trading will begin on or after 9AM Pacific Time (PT) Wednesday June 16, if liquidity conditions are met."

[ElectricAR15]

Yeah there is the possibility of a huge sell off comes September 7 - 12 with a cost price of $0.30 definitely many will take profit no doubt but I think some will sell depending on the upcoming news the team have, sometimes things don't always go the way it is expected, I have seen several cases where people anticipate a fall in price but the opposite will happen.

30 cents, quite a bargain

[speedy963]

This is quite scary. I just entered polkadot at 24.something and currently at a loss right now. Seing the links you provided I feel bad for not being able to say to myself that you're just another guy trying to make fud about this altcoin. Man, I wanted to go on uniswap but chose this instead since a lot of people were so positive about this altcoin. Should I just pull out what I can or is there still a chance for me to get back my losses and maybe a few profits? I'm so confused right now.

[LordMiguel]

this prediction was made in August last year. i hope the post remembers it and invest as he said. also i discovered that price movement of alts increased drastically from december 2020. hopefully, if op invested in polkadot, he will be over 300% rich now and maybe sell off some tokens and invest in other new project.s

[speedy963]

This is quite scary. I just entered polkadot at 24.something and currently at a loss right now. Seing the links you provided I feel bad for not being able to say to myself that you're just another guy trying to make fud about this altcoin. Man, I wanted to go on uniswap but chose this instead since a lot of people were so positive about this altcoin. Should I just pull out what I can or is there still a chance for me to get back my losses and maybe a few profits? I'm so confused right now.

polkadot is an altcoin that is still new and certainly takes time to develop so in my opinion if you are stuck at a high price then you should be patient and wait until the price goes up again because if you sell it at a low price then it will only make you lose when the price can go up again sometime later.

Yes, I was also thinking about the same thing. But again, as what I have said, the OP's post really makes sense and it scares me quite a lot knowing that I invested on a high. Specially now that the price of polkadot is currently decreasing more and more. I checked those links last time and I just can't get rid of the thought of losing my hard earned money. I'm still quite hesitant though since my gut tells me I should hold on for a little bit longer. Maybe I'll just try to hold out for this month and wait and see what happens 1st week next month before I decide. I just hope the price doesn't dump too much till then :/

[Ghondronk]

Polka dot ecosystem is one of the most promising things which I have seen in the crypto arena in last few months. Dot token itself has a higher growth potential and based on a strong project. Hence, I think it would be a great opportunity for anyone if he/she can buy some tokens from the current dip.

[michellee]

This is quite scary. I just entered polkadot at 24.something and currently at a loss right now. Seing the links you provided I feel bad for not being able to say to myself that you're just another guy trying to make fud about this altcoin. Man, I wanted to go on uniswap but chose this instead since a lot of people were so positive about this altcoin. Should I just pull out what I can or is there still a chance for me to get back my losses and maybe a few profits? I'm so confused right now.

polkadot is an altcoin that is still new and certainly takes time to develop so in my opinion if you are stuck at a high price then you should be patient and wait until the price goes up again because if you sell it at a low price then it will only make you lose when the price can go up again sometime later.

I agree with you. As a new altcoin in the crypto market, Polkadot needs more time to develop the project and of course, the price will increase if the project can compete with the other projects. But with the price now is more than $15 and get in the top 10 positions will give more chances for Polkadot to increase the price in the future. If he bought Polkadot at a high price, maybe he can buy back again because the price is not too high compared to the last time he bought it. But still, he needs to be patient and do not panic because the price can increase anytime.

[zasad@]

https://medium.com/polkadot-network/polkadot-roadmap-roundup-4ee64577a9ae
Polkadot Roadmap Roundup
"As the Polkadot Community comes into the last quarter of 2022, we at Parity Technologies would like to update the community on a number of important development topics we’ve been working on. These bridge a number of categories: parachain scalability, parachain development, relay-chain governance, cross-chain communication, common-good parachains, bridging to other ecosystems, and staking. We’ve been hard at work on delivering the code for these features and upgrades and look forward to having them accepted by the Polkadot community."

[Chainsmokers]

this is the right time to buy polka dots, why delay if this is a golden opportunity?, you can see the truth through the chart,
because the highest price of DOT was at $54 and now DOT is only at $6, of course this is a good opportunity to invest in DOT.
yes even though the OP said people staking on DOT have reached 50% more I think it will have no effect on the price of DOT,
and maybe if there is another decline there will be $3 and I believe $3 is a very strong bottom.

[Paul Pogba]

There are many reasons why we don't invest in Polkadot, and I think because the market is bearish, in 2021 I sold all balances when the price was $22, and now the price is around $6, and I will watch to buy again.

[GreatArkansas]

(....)
I also planned to buy this coin, but after talking with different people, I changed my mind while investing in it.
I will wait until mid-September.

Your opinion?

I already got out on Polkadot. Polkadot was one of my biggest loses recently when I started to buy some altcoin gems last year. I was able to participate also on their network and conducted some para chain auctions on some projects. Which for me it was also a bad timing because after those we experienced a massive dumps, I remember the ICO fever last 2018 because of this.

[Kelvinid]

I see the developer is trying to be more aggressive and likely to gain some interest in the community but for those who have a bad experience with this project, that is really to please them and put trust back again.

Well, I have no experience with this project for I don't have an interest in this before. Might say, maybe this time but before that - I have to observe first their performance after their upgrades. I'm just going to see if there is a market potential for this project or just the same. Because many projects doing upgrades but the results are still the same, it makes no sense honestly.

[traderethereum]

When a significant price drop at the beginning of the year made me sell all existing stock, of course this is common when the market is bearish, but when compared to BNB, MATIC, Solana or others and it doesn't drop too much like Polkadot, luckily I sell when the price is around $22, if I still hold until now of course I'm losing more.

You are really lucky to be able to take advantage of that moment to sell Polkadot because some traders lose the moment to sell it at that price.
I don't really have high hopes for Polkadot but I have a few Polkadots that I bought at a low price and now I'm just waiting for the price to increase again.
Maybe it will happen in the next altcoin season and at this time, there may be some investors who have bought Polkadot in large quantities because they believe the price of Polkadot can increase high in the future.
So we'll see what happens with Polkadot very soon.

[hichamito37]

When a significant price drop at the beginning of the year made me sell all existing stock, of course this is common when the market is bearish, but when compared to BNB, MATIC, Solana or others and it doesn't drop too much like Polkadot, luckily I sell when the price is around $22, if I still hold until now of course I'm losing more.

Compared to polkadot, Cosmos is its rival, but cosmos is doing better than polkadot is doing. But Vitalik Buterin used to appreciate the potential of DOT so I think DOT still has a future. Currently, DOT is still one of the top projects on CMC, although the price has dropped quite a bit, the developer is still continuing. so I'm still betting on the success of DOT.

[topman21]

I once invest Polkadot 2 years ago, because they actively advertised in various media, at that time I bought at a price of $ 5 and regretted because I skyrocketed up to $ 50 at the end of 2021 or a year after I sold, of course I would see the development of Polkadot for investment again.

Polkadot is a very good and popular coin. At one point the price of this Polkadot rose up to $50.But now it has reduced a lot due to bad market conditions But those of you who are very confident in investment can invest in all these platforms If you can invest in this bad market at a low price, then after the market is good, you will see that you have enough profit from here.

[monineklutak]

I once invest Polkadot 2 years ago, because they actively advertised in various media, at that time I bought at a price of $ 5 and regretted because I skyrocketed up to $ 50 at the end of 2021 or a year after I sold, of course I would see the development of Polkadot for investment again.

this time is indeed a good time to buy Polkadot because the price of $6 for DOT is a very cheap price especially Polkadot is also predicted to be a rival to Ethereum,
of course this will be more interesting because Ethereum is also just starting, after Merge Ethereum will be more attractive and DOT of course will not lose to Ethereum,
this is why investing in DOT at current prices is the right thing.

[Jeger.Kiting]

You have offered some very useful information, so for that I am now starting to monitor the DOT of several existing exchanges to ascertain how the DOT situation is. It would be much better for all of us to wait when prices will slowly drop so that we can buy at a significant discount and contribute to an increase in income once prices start rising again. Let's wait a moment to confirm the upcoming DOT price movement.

[RealMalatesta]

this is the right time to buy polka dots, why delay if this is a golden opportunity?, you can see the truth through the chart,
because the highest price of DOT was at $54 and now DOT is only at $6, of course this is a good opportunity to invest in DOT.
yes even though the OP said people staking on DOT have reached 50% more I think it will have no effect on the price of DOT,
and maybe if there is another decline there will be $3 and I believe $3 is a very strong bottom.

People are not entirely sure if it is the golden chance to buy it right now, it would be a bit weird if you felt so comfortable about it and tell people about how comfortable you are by investing right now. Obviously, altcoins are a bit riskier than bitcoin, which means that they could end up being not so high and that would be understandable as well.

I personally would suggest you to buy it as soon as you can, because you really believe in it, but if others do not then I would understand it as well. It is not an easy decision to invest into anything, doesn't matter what it is, and people grow with the idea that there isn't free money anywhere, so it is hard to accept the fact that it is a good looking project.

[ningrum]

I once invest Polkadot 2 years ago, because they actively advertised in various media, at that time I bought at a price of $ 5 and regretted because I skyrocketed up to $ 50 at the end of 2021 or a year after I sold, of course I would see the development of Polkadot for investment again.

Polkadot is a very good and popular coin. At one point the price of this Polkadot rose up to $50.But now it has reduced a lot due to bad market conditions But those of you who are very confident in investment can invest in all these platforms If you can invest in this bad market at a low price, then after the market is good, you will see that you have enough profit from here.

Polkadot was originally a potential coin but for now its price is going down and that is also inseparable from the influence of this bear market,
before buying this coin I think it is still necessary to do research first,
hopefully after the bull market comes the price of polkadot can go up again

[zasad@]

The Polkadot has a number of development problems due to their auctions. Over the past year, about 30 projects have appeared in this ecosystem that have won auctions, but many have not yet launched. The launch of 100 projects will have to wait another 1-2 years. In other ecosystems, it is much easier to start and you do not need to spend time participating in auctions.

[JohnBitCo]

Polkadot has a good position, I know Polkadot because in 2020 they are very massive in advertising, and I have also made a profit because I was able to sell when the price was $24 because previously I bought at $17, but for the short term now I will focus on investing in new listed coins or in a new project that is certainly more promising big profits.

Polkadot has been one of the promising cryptocurrencies. OP has posted this thread in August 2020 and now after two years, many fundamentals about DOT have changed.
If we see the latest roadmap and partnership of DOT, i think this can be one of the best investments at present prices.

[tygeade]

People are not entirely sure if it is the golden chance to buy it right now, it would be a bit weird if you felt so comfortable about it and tell people about how comfortable you are by investing right now. Obviously, altcoins are a bit riskier than bitcoin, which means that they could end up being not so high and that would be understandable as well.

I personally would suggest you to buy it as soon as you can, because you really believe in it, but if others do not then I would understand it as well. It is not an easy decision to invest into anything, doesn't matter what it is, and people grow with the idea that there isn't free money anywhere, so it is hard to accept the fact that it is a good looking project.

That's something people would have to deal with regarding DOT itself though. I mean I have 100% trust that bitcoin, ethereum and bnb will go up, that's something I trust very much, so much so that I am putting all my money in there at all times (whatever I can afford to save aside) and that means we shouldn't be shocked with some people adding DOT to that, some people add something else, we all have coins that we trust so much, and he could be trusting DOT as much as I trust bitcoin. There are also people who do not trust even bitcoin that much and sell with panic, that's something that happens all the time, so it's different types of people.

[BobK71]

Polkadot has a good position, I know Polkadot because in 2020 they are very massive in advertising, and I have also made a profit because I was able to sell when the price was $24 because previously I bought at $17, but for the short term now I will focus on investing in new listed coins or in a new project that is certainly more promising big profits.

Polkadot has been one of the promising cryptocurrencies. OP has posted this thread in August 2020 and now after two years, many fundamentals about DOT have changed.
If we see the latest roadmap and partnership of DOT, i think this can be one of the best investments at present prices.

The quotes the OP made were from 2020 and we are now in 2022. Then there is no correlation between the OP's views and the current market conditions. I think the dot is still in a very good position from where buying will increase the potentiality. I think investing in dot means it will be a top class investment plan.

[koang]

Polkadot has been one of the promising cryptocurrencies. OP has posted this thread in August 2020 and now after two years, many fundamentals about DOT have changed.
If we see the latest roadmap and partnership of DOT, i think this can be one of the best investments at present prices.

Polkadot is on a trajectory of growth and evolution, the project has built and grown its ecosystem.
The traffic will come organically in due course.
With the current market conditions, keep calm and collect as much as possible at this discounted price.
The bigger the dump, the greater the chance of obtaining a profit in the next bull period

[thecodebear]

Parachains have been starting on DOT since end of last year. It'll take a couple years to get all ~100 parachains auctioned off and up and running. So by the 2024/2025 bull market Polkadot should have its initial parachains pretty much all set up.

While the 2021 DOT price rise was due to hype for the start of parachains, the '24/'25 price action will have to do with actual usage of these applications on Polkadot. If they start becoming popular we could see DOT over $100 during the bull run. But if the DOT ecosystem isn't making a splash by the time the bull market is here DOT might be relegated to the fate of so many cryptos that have one big bull market run and then never get as high again.

The 2021 high was around $55, so I'll be looking to see if DOT can pass that price fairly early on in the '24/'25 bull run (like when Bitcoin is still under $100k) to get an idea of whether or not DOT is going to go significantly higher than 2021 or if it was all hype and it won't ever become a major player in crypto. I guess if it can get back up to $35-$40 (where it spent a good amount of time in 2021) by the time of the Bitcoin halving that'll be a great sign that it's likely to crush its ATH. I'm hoping to see like $90-$100 DOT price in 2025.

Right now, sitting at the bottom of the bear market, the price is in the $6 range. It passed this price initially in the last few days of 2020 while Bitcoin was about to hit $30k for the first time. So its bear market bottom is a little higher than its price was in the first few weeks of the last bull market. Hopefully, once the bottom of the market is over we'll see DOT return to >$20 next year, >$35 by the halving, >$55 ATH by end of 2024, and significantly higher at the peak of the bull market in 2025.

[RiverBoy]

Polkadot blockchain is a good project some need to invest on, because it has been using in difference platform as the community keep adopting the chain, mostly on gaming and betting platform, has been using as a quick transaction all together. Base on that, it sound very interesting to invest Polkadot DOT Coins during this bear market, while waiting for Bull Run.